Beijing GeoEnviron Engineering & Technology, Inc. (SHSE:603588) agreed to acquire 20.7% stake in Zhejiang Jiatianhe Environmental Technology Co., Ltd. from Lanxi Jiahe Investment Partnership (Limited Partnership) and Lanxi Jiatianhe Investment Partnership (Limited Partnership) for CNY 10 million on November 22, 2021. As part of the tansaction, Beijing GeoEnviron will acquire 11% stake from Lanxi Jiatianhe for CNY 5.4 million and 9.65% sake from Lanxi Jiahe for CNY 4.67 million. Beijing GeoEnviron will also contribute capital and will obtain 51% of Zhejiang Jiatianhe. After the acquisition and capital increase, Zhejiang Jiatianhe will be 51% hold by Zhejiang Jiatianhe, 39.52% by Shi Lingjing and 9.48% by Lanxi Jiahe. As of August 31, 2021, Zhejiang Jiatianhe reported Total assets of CNY 34.25 million and Owners' equity of CNY 19.44 million. Post completion, Beijing GeoEnviron will appoints two directors and one supervisor, and other shareholders appoint one director of Zhejiang Jiatianhe. The transaction is approved by the 39th meeting of the fourth board of directors of Beijing GeoEnviron and does not need to be submitted to the shareholders meeting for deliberation.